The host of CNBC’s Mad Money has been often grilled on social media for advising people to invest in assets that turn unprofitable or vice-versa.

His latest example is the notorious Silicon Valley Bank, which became a victim of a bank run, and ultimately collapsed on Friday.

Cramer Said Buy SVB Stock

“This company is a merchant bank with a deposit base that Wall Street has mistakenly been concerned by,” explained Cramer in his show from February 8. He added that the bank was “less dependent upon private equity and venture capital offerings” before adding that the stock “is still cheap” despite being up by 40% YTD at the time.

Fast-forward to a month later, on March 8, SVN’s woes became known to the mass public as the bank announced it had sold a large portion of securities at a loss and plans to dispose of over $2 billion in new shares to fix its balance sheet.

The company’s stocks plummeted shortly after, and the announcement triggered panic among depositors who rushed to withdraw their funds from the bank.

The shares in question, which Cramer touted as cheap a month ago, took another hit on Thursday and were ultimately halted on Friday. Regulators had to step up as the Federal Deposit Insurance Corporation took over the bank during the trading day. The independent federal agency typically awaits the end of the trading hours to do so.

“SVB’s condition deteriorated so quickly that it couldn’t last just five more hours. That’s because its depositors were withdrawing their money so fast that the bank was insolvent, and an intraday closure was unavoidable due to a classic bank run,” – said Better Markets CEO Dennis M. Kelleher.

The bank’s demise harmed the crypto industry, as it turned out that at least one giant – Circle –